Fund suspension of trading generally has the following situations:
1, during holidays and non-trading hours, the fund is closed to stop trading and suspended from opening;
2. The fund is in a closed and open period at the initial stage of its establishment, and trading is suspended;
3. The fund company temporarily suspends trading, and suspends trading from the perspective of fund operation;
4. Temporary intervention measures taken by the fund to unilaterally suspend subscription or redemption in order to ensure the interests of investors or prevent the market from fluctuating on the net value of the fund.
The so-called closed period of open-end fund refers to a period of time when investors do not accept the application for fund share redemption after the fund successfully raises enough funds to declare the fund contract effective.
On the one hand, the closure period is set to facilitate the fund backstage (registration center) to make the best preparation for future subscription and redemption; On the other hand, the fund manager can complete the preliminary investment arrangement according to the situation of the securities market. According to the Measures for the Administration of the Operation of Securities Investment Funds, the closed period of the funds shall not exceed 3 months.
Recruitment cycle:
During this period, the fund management company sells funds to investors through the company's direct selling agencies or banks and other consignment agencies to raise funds. At this stage, investors can only buy fund shares and cannot sell them. The subscription price is the net value of shares (1 yuan), and the cost of purchasing fund shares is called subscription fee.
Due to the continuous popularity of open-end fund sales, in order to avoid the inconvenience caused by the excessive amount of funds raised, funds generally set a certain share limit (such as 65.438+000 billion), and the excess will not be confirmed. Due to the recent boom in fund sales, the regulatory authorities recently issued a notice requesting that the new fund subscription application exceed the established limit and be placed in proportion.
Related extension of fund closure period: fund raising period
After the fund raising period is over, the fund will be closed. During the closed period of the Fund, investors cannot purchase and redeem the Fund. In the later period of fund closure, the fund subscription is generally opened first, and the investment cannot be realized immediately. The fund closure period is generally not more than three months.
After the fund closure period, investors can buy and sell funds normally, that is, the duration of the fund. At this time, the fund subscription is called the fund subscription, and the fund price is different from the fund subscription, which is calculated according to the closing price of the day.
The duration of closed-end funds is at least 5 years, generally 10- 15 years. Closed-end funds can be extended after expiration. As long as the fund holders recognize the operation of the fund, the duration of the open-end fund can last for a long time.